Pepper futures rise on tight stocks

Pepper prices rose by Rs 208 to Rs 23,211 per quintal in futures trade today, as speculators enlarged their positions, supported by tight stocks following poor supplies.

At the National Commodity and Derivatives Exchange, pepper for April traded Rs 208, or 0.90 per cent higher, at Rs 23,211 per quintal, with an open interest of 440 lots. 

Similarly, the spice for delivery in July gained Rs 179, or 0.75 per cent to Rs 24,076 per quintal, with a business volume of 31 lots.

Market analysts said lower stocks in the market following poor supplies from producing regions, influenced pepper prices at futures trade.